Top Five Largest Rental Projects Completed in St. Louis in 2015
- Mar 23, 2016
By Balazs Szekely, Contributing Editor
St. Louis, Mo.—The Lou kept growing in 2015 and developers added nine apartment communities of over 50 units to the local inventory, according to data collected by Yardi Matrix. With a total of 1,532 apartment units, this growth lags behind the previous year’s performance only marginally—11 new builds came online in 2014, bringing 1,551 apartment units to market. The average rent for apartments in St. Louis is currently at $837, while communities built since 2010 command $1,326 on average.
The most recent additions include conversion projects as well as new constructions. These range from affordable options, including artists’ housing, through student- and senior communities to luxury high-rises.
1. Arcade Apartments, 282 units
This downtown property is part of the century-old Gothic Revival skyscraper at 800 Olive Street. Affordable housing development and management company Dominium converted the building into a mixed-use space for university classes and apartments. Most of them, 202 units are affordable and the rooftop terrace on the 19th floor offers panoramic city views. Amenities include a yoga studio, a fitness center with steam room, a theater and a clubroom with kitchen. The community is also pet-friendly. (Image courtesy of Arcade Apartments)
2. West Pine Lofts, 206 units
West Pine Lofts is a new gated community in St. Louis, brought to life by student housing real estate company Peak Campus. The property offers five floor plans with up to two bedrooms and two baths. It also features 250 parking spaces, available free of charge for residents. All 206 units are furnished washer/dryer in each home. The selection of on-site amenities includes a business center, fitness center with free weights, a resort-style swimming pool, tanning beds, game room and pool table, as well as a grilling area. (Image courtesy of West Pine Lofts via Facebook)
3. Celtic Crossing, 168 units
Located minutes from Highway 364 (a.k.a. the Page Extension), off of Highway 94 in in the St. Peters suburb of St. Louis, this project appeals for those who seek a more laid-back suburban lifestyle. Developed by ARCO Construction’s joint venture with Niebur Development and Mills Properties, Celtic Crossing offers three floor plans with one, two, and three bedrooms and up to two baths, ranging in size from 752 to 1311 square feet. Units are equipped with walk-in closets, kitchen islands, granite countertops, and some of the apartments also feature double sinks in the master bathroom. (Photo credit: RENTCafé)
4. The Standard at St. Louis, 164 units
This off-campus student housing community near St. Louis University is the result of a collaboration between Landmark Properties and Sangita Capital Partners. Each of its luxury apartments is fully furnished, featuring washer and dryer, granite countertops, as well as a 42-inch flatscreen TV. Common-space amenities are also available including 390 parking spaces, a resort-style pool, gaming room, several fitness facilities, media room and group study room. (Image courtesy of: The Standard at St. Louis via Facebook)
5. The Reserve at Fountainview, 144 units
Jacksonville, Fla.- based Faver Gray’s latest development offers homes in six floor plans. The 144 units comprise mostly one-bed apartments, with 28 two-bedroom apartments and only 4 three-bed units. Located minutes from Historic Downtown St. Charles, the garden-style community is in close proximity to Highways 70, 270, and 94, allowing for an easy commute to any destination in the area. Apartments feature premium plank flooring, custom wood cabinetry, private patios or balconies, gourmet kitchens and full size washer/dryer in all units. (Image courtesy of: The Reserve at Fountainview)
For more of 2015’s largest apartment projects in St. Louis, check out the complete list on the RENTCafé Blog.